Over half of conveyancers (55%) express their confidence in the current stability of the property market, while a third remain neutral, and 12% are lacking confidence, according to initial findings from the Council for Licensed Conveyancers' (CLC) new Confidence Tracker. This initiative aims to assess professional sentiment on the state of the home buying and selling market.

Conducted between 12th February and 11th March, the survey gathered insights from 85 conveyancers regarding market stability, improvements in the conveyancing process, technology, and client sentiment. Most respondents indicated that property transactions are taking between three to four months from offer acceptance to completion. However, only 17% reported noticing improvements in the conveyancing process, reinforcing the CLC’s stance that efforts to modernise home buying must be intensified.

The new Confidence Tracker is set to become a regular industry benchmark, monitoring conveyancers’ expectations and sentiments to provide a clearer picture of the sector’s overall health.

Reflecting on the initial results, CLC Head of Strategy and External Relations, Stephen Ward, commented:

“It’s good to see that confidence levels are high. But 2025 holds a lot in store for the property market. Next month’s stamp duty land tax (SDLT) changes will undoubtedly have an impact. We also expect to see interest rates continue to gradually trend downwards.

“The introduction of material information aims to improve transparency and reduce delays caused by unexpected revelations late in the transaction and it should really start to have an impact in 2025. It will be valuable to see how all of this is reflected in the future editions of this survey, especially with the government’s recent process. commitment to working with the industry to reform the property transfer process.”

Source: CLC conveyancers optimistic